Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. grew its holdings in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 0.5% during the 1st quarter, HoldingsChannel.com reports. The firm owned 106,680 shares of the bank’s stock after buying an additional 549 shares during the period. Principal Financial Group Inc.’s holdings in Texas Capital Bancshares were worth $7,969,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management acquired a new stake in shares of Texas Capital Bancshares in the 4th quarter worth approximately $30,000. UMB Bank n.a. grew its holdings in shares of Texas Capital Bancshares by 1,089.8% in the 1st quarter. UMB Bank n.a. now owns 583 shares of the bank’s stock worth $44,000 after acquiring an additional 534 shares during the period. GAMMA Investing LLC grew its holdings in shares of Texas Capital Bancshares by 127.0% in the 1st quarter. GAMMA Investing LLC now owns 831 shares of the bank’s stock worth $62,000 after acquiring an additional 465 shares during the period. Aster Capital Management DIFC Ltd acquired a new stake in shares of Texas Capital Bancshares in the 4th quarter worth approximately $115,000. Finally, Sterling Capital Management LLC grew its holdings in shares of Texas Capital Bancshares by 819.9% in the 4th quarter. Sterling Capital Management LLC now owns 1,481 shares of the bank’s stock worth $116,000 after acquiring an additional 1,320 shares during the period. Institutional investors and hedge funds own 96.88% of the company’s stock.

Texas Capital Bancshares Price Performance

TCBI stock opened at $84.91 on Wednesday. Texas Capital Bancshares, Inc. has a 52-week low of $56.24 and a 52-week high of $94.61. The stock’s fifty day simple moving average is $77.25 and its 200-day simple moving average is $75.45. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $3.90 billion, a price-to-earnings ratio of 48.80, a price-to-earnings-growth ratio of 0.87 and a beta of 0.66.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings data on Thursday, April 17th. The bank reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by ($0.07). The business had revenue of $280.48 million for the quarter, compared to analyst estimates of $284.40 million. Texas Capital Bancshares had a return on equity of 9.39% and a net margin of 5.04%. Equities research analysts expect that Texas Capital Bancshares, Inc. will post 5.84 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on TCBI shares. Raymond James Financial reduced their target price on Texas Capital Bancshares from $87.00 to $80.00 and set an “outperform” rating on the stock in a research note on Monday, April 21st. Stephens reduced their target price on Texas Capital Bancshares from $95.00 to $90.00 and set an “overweight” rating on the stock in a research note on Monday, April 21st. Jefferies Financial Group set a $80.00 target price on Texas Capital Bancshares and gave the company a “hold” rating in a research note on Wednesday, May 21st. Keefe, Bruyette & Woods reduced their target price on Texas Capital Bancshares from $92.00 to $86.00 and set an “outperform” rating on the stock in a research note on Monday, April 21st. Finally, Hovde Group reduced their target price on Texas Capital Bancshares from $84.00 to $75.00 and set a “market perform” rating on the stock in a research note on Monday, April 21st. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $79.43.

Insider Buying and Selling

In related news, Director Robert W. Stallings acquired 10,500 shares of the business’s stock in a transaction on Wednesday, June 11th. The shares were bought at an average cost of $20.28 per share, with a total value of $212,940.00. Following the completion of the transaction, the director directly owned 60,000 shares of the company’s stock, valued at $1,216,800. This trade represents a 21.21% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders bought 29,800 shares of company stock valued at $1,059,205 over the last 90 days. Company insiders own 1.72% of the company’s stock.

About Texas Capital Bancshares

Texas Capital Bancshares, Inc operates as the bank holding company for Texas Capital Bank, is a full-service financial services firm that delivers customized solutions to businesses, entrepreneurs, and individual customers. The company offers commercial banking; consumer banking; investment banking solutions, including capital markets, mergers and acquisitions, and syndicated finance, as well as financial sponsor coverage, capital solutions, and institutional services; and wealth management services, such as investment management, financial planning, lockbox and insurance, securities-based lending, estate planning, and business succession, as well as philanthropic, trustee and executor, custom credit, and depository services.